Syntax Trust Seeks To Avoid $33M In Digimedia Claims

Law360, New York (July 6, 2010, 2:04 PM EDT) -- The liquidation trust in Syntax-Brillian Corp.'s bankruptcy case is seeking to sidestep about $33.4 million in prepetition transfers it made to Digimedia Technology Co. Ltd., saying its creditor shouldn't be allowed to recover the claims.

In an adversary complaint launched Friday in the U.S. Bankruptcy Court for the District of Delaware, SB Liquidation Trust took issue with two sets of transfers made to Digimedia prior to the company's July 2008 petition date.

The first set of preferential transfers, totaling about $16.7 million, are avoidable because they...
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